IPG Photonics Corp.
Fiber laser maker IPG Photonics Corp. of Oxford, Mass., has announced that it will sell up to 2.8 million shares and that its chairman and CEO, Dr. Valentin P. Gapontsev, will sell another 200,000 shares in a public offering. Proceeds of the sale will be used to fund capital expenditures and provide working capital and could be used to fund acquisitions, although none are currently pending. Underwriters also will be granted a 30-day option to purchase up to an additional 450,000 shares. IPG’s products have applications in a variety of areas, including the medical sector.